Receive News Updates by E-Mail
Connect with us

Commercial News

Brookfield is considering REIT listing worth $1 billion

News Editor




Brookfield Asset Management Inc. is considering bundling its commercial real estate assets in India into a real estate investment trust for a listing next year, according to people familiar with the matter.

The Canadian asset manager has held discussions on a potential initial public offering of a property trust that could raise more than $1 billion, said the people, who asked not to be identified as the discussions are private. Brookfield is considering including about 15 million square feet to 20 million square feet (1.9 million square meters) of real estate, one of the people said.

Brookfield owns 22 million square feet of office properties in India, according to its website. Deliberations are at an early stage, and Brookfield could still decide against pursuing the transaction, the people said. A representative for Brookfield declined to comment.

A successful listing would follow the April debut of Embassy Office Parks REIT, backed by Blackstone Group LP. The REIT has gained about 41% since it started trading. Blackstone is also working with Indian developer K Raheja Group to prepare for an initial public offering of their joint commercial property portfolio.

Source: Bloomberg

ALSO READ: Interest Rate Cycle’s Impact on the UAE property market

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


© 2020 RealtyNXT | All Rights Reserved.